Rex Minerals Limited is conducting a strategic review process to evaluate options for its wholly-owned Hog Ranch Gold Property in Nevada, United States.
According to the company, the process is designed to review the company’s options to accelerate exploration and substantially increase the scale and hence the value of the property.
The review will also consider a suite of funding alternatives and take into account recent inbound interest in the property.
The strategy will focus on expanding the shallow oxide mineral resource at the Krista and Bells Project locations and build on the gravity, soil sampling and 3D-induced polarisation data which indicates that considerable sulphide-hosted gold exists around the Airport Project location.
Additionally, the review will support feasibility studies focussed on a new large-scale open-pit and heap leach gold operation at Bells and Krista combined, targetting over 200 kilo ounces of gold per annum.
Rex believes that fast-tracking a substantial exploration program and feasibility studies at the site will provide an opportunity to define and develop a world-class gold operation.
The company is also looking at exploring different options for Hog Ranch, including a review of recent inbound expressions of interest, joint ventures and other funding options or partnerships.
Commenting on the planned review, Rex Managing Director and CEO Richard Laufmann said Hog Ranch is a unique asset that has “huge scalability and upside” the company wants to build on as soon as possible.
“Our vision for Hog Ranch is to double the existing resource by expanding the footprint at Krista, drilling the standout targets around Airport and exploring for higher-grade potential at depth,” he added.
Laufmann noted that the company believes that Hog Ranch has the potential to become a significant gold operation and added that the review will define the best pathway forward to maximise value for the company’s shareholders.
